First Time Buyer

Looking to get on the property ladder?

First Time Buyer

Buying your own home can be a daunting process, especially if you are a first time buyer. However we are here to guide you through every step of the way. With buying a house there are many elements to think about.

  • Solicitors costs
  • Stamp duty
  • Deposit
  • Surveys
  • Credit report
  • Finding a property

Apps like Zoopla (https://www.zoopla.co.uk) and Rightmove (http://www.rightmove.co.uk/) can be very useful search tools. Or if you’re looking in a particular area, visit local estate agents with your criteria and they will ring you when a property becomes available. This can be important as there can be a lot of competition and it always helps to be at front of the queue.

These are a couple of questions you might want to think about:

What area would you like to live in?

What are the key features you would like in a property?

How much deposit do you have available?

Help to buy ISA - how does it work?

If you are a first time buyer saving to buy a home, save money into a Help to Buy: ISA and the Government will boost your savings by 25%. So, for every £200 you save, receive a government bonus of £50. The maximum government bonus you can receive is £3,000.

What is the maximum that my property can cost to qualify for a government bonus?

To qualify for a government bonus, the property you are buying must have a price of £250,000 or less (or a higher price limit of £450,000 in London) and you must be a first time buyer.

Further information can be found at helptobuy.gov.uk

(*Please be aware that by clicking on to the above links you are leaving PMC Independent Mortgage Solutions Ltd’s website. Please note that PMC Independent Mortgage Solutions Ltd is not responsible for the accuracy of the information contained within the linked site(s) accessible from this page.)